BNY Mellon has acquired Portsmouth Financial Systems, a developer of modelling and analytics of structured credit transactions.
The acquisition will allow BNY Mellon to offer a new service with a variety of features, including allowing clients and investors to review actual or predictive security cash flows, to access loan level historical data analysis and cash-flow scenarios, and to plug-in default and prepayment modelling. BNY Mellon said the new service will initially focus on analysis related to US residential mortgage-backed securities, growing over time to include other structured assets globally.
“This acquisition will allow us to provide clients and investors with a greater level of transparency around their structured credit holdings,” said Patrick Tadie, executive vice president and head of global structured credit at BNY Mellon Corporate Trust. “It will enhance their analysis and decision-making capabilities by providing them with an independent, centralised source of data and extensive modelling tools.”
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